sec.325Effect of registration of transfer

### sec.325 Effect of registration of transfer On registration of a transfer— all the rights, powers, privileges and liabilities of the transferor vest in the transferee; and the transferee holds the interest in the land subject to the registered interests affecting the interest. If a land management agreement applies to a lease being transferred, on registration of the transfer— the transferee is taken to be a party to the agreement in place of the transferor; and the rights and responsibilities of the transferor under the agreement become the rights and responsibilities of the transferee; and the lease continues to be subject to the following conditions— there must be a current land management agreement for the lease; the lessee must comply with the agreement. s 325 amd 2007 No. 19 s 156 ; 2013 No. 2 s 128 (sec.325-ssec.1) On registration of a transfer— all the rights, powers, privileges and liabilities of the transferor vest in the transferee; and the transferee holds the interest in the land subject to the registered interests affecting the interest. (sec.325-ssec.2) If a land management agreement applies to a lease being transferred, on registration of the transfer— the transferee is taken to be a party to the agreement in place of the transferor; and the rights and responsibilities of the transferor under the agreement become the rights and responsibilities of the transferee; and the lease continues to be subject to the following conditions— there must be a current land management agreement for the lease; the lessee must comply with the agreement. - (a) all the rights, powers, privileges and liabilities of the transferor vest in the transferee; and - (b) the transferee holds the interest in the land subject to the registered interests affecting the interest. - (a) the transferee is taken to be a party to the agreement in place of the transferor; and - (b) the rights and responsibilities of the transferor under the agreement become the rights and responsibilities of the transferee; and - (c) the lease continues to be subject to the following conditions— (i) there must be a current land management agreement for the lease; (ii) the lessee must comply with the agreement. - (i) there must be a current land management agreement for the lease; - (ii) the lessee must comply with the agreement. - (i) there must be a current land management agreement for the lease; - (ii) the lessee must comply with the agreement.